Nano Dimension Ltd.
Nano Dimension Ltd. develops industrial additive manufacturing systems and related materials, software, and services for electronics and mechanical part production. Its portfolio includes 3D printers, consumable materials, cloud-based software, and support services sold through direct channels, resellers, and partners, primarily to industrial and technical customers.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueIndustrial 3D printers and additive manufacturing equipment sold to production and prototyping users.
Proprietary printing materials and related consumables used with the installed base of printers.
Cloud-based software, digital workflow tools, and subscription access to the platform.
Installation, maintenance, customer success, and other support services.
Products
Reported · share of revenue- Products78.5 %
- Services21.5 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
The company sells to advanced industrial users that need design flexibility and industrial-strength parts for manufacturing workflows. End markets cited in reports include aerospace, defense, automotive, electronics, medical, research and academia, and government organizations. A meaningful portion of sales also flows through value-added resellers and channel partners that serve end users.
Buy industrial printers and materials for mission-critical prototyping and specialized part production.
Use the systems for electronics manufacturing workflows and design-to-manufacturing applications.
Purchase additive manufacturing systems for prototyping, tooling, and specialized production parts.
Buy systems for experimentation, development, and advanced manufacturing programs.
Purchase products for resale and often provide installation and local customer support.
Strategy
The company is focused on expanding hardware sales because installed printers are the entry point for recurring consumables and software revenue. It is also investing in marketing, sales, operations, and R&D to broaden market penetration and improve its integrated hardware-software-materials platform. The Markforged acquisition broadened the product portfolio and added cloud-based software and industrial printer capabilities.
Printer sales drive the installed base that later supports consumables and software revenue.
Consumables, software, and subscriptions can monetize the installed base over time.
Combining hardware, software, and materials improves customer value and differentiation.
Geography
Q2/2026The company operates as a U.S.-based business with sales and customer activity across industrial markets rather than a single end-market geography. The reports emphasize global supply chain exposure and channel-based distribution, which makes manufacturing, logistics, and customer access important parts of the operating model. No authoritative country revenue split was provided in the excerpts.
Share of the revenue the company reports by geography.
Risks
The business depends on hardware adoption, so demand volatility can affect both current revenue and future recurring consumables sales. It also faces competition, tariff and supply-chain exposure, and execution risk in scaling a multi-channel industrial manufacturing platform. Because the company has historically operated at a loss, funding needs and acquisition integration remain important business risks.
Printer sales are the main driver of revenue and the installed base for future consumables and software.
Exposure: Hardware adoption and customer utilization
Management cited increased tariffs as a factor behind lower legacy product sales volume.
Exposure: International sourcing and customer purchasing decisions
The company relies on both third-party manufacturers and internal facilities for production and delivery.
Gross margin and market share depend on pricing, product mix, and customer adoption in a competitive niche.
Exposure: Industrial additive manufacturing market
The business has expanded through acquisition, which can create integration and product-portfolio execution risk.
Exposure: Markforged integration
Accounting
Judgemental itemsHardware is recognized at transfer of control, while software/subscriptions are recognized over time.
Impact: Changes reported revenue timing and mix
Historical hardware sales are higher in the third and fourth quarters.
Impact: Quarterly comparability and working capital swings
Additive manufacturing hardware and consumables can become excess or obsolete.
Impact: Affects gross profit and inventory carrying values
The Markforged acquisition can create fair value step-ups, amortization, and impairment exposure.
Impact: Affects operating expenses and balance sheet values
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Last updated: 24/09/2026